A company insider recently sold 10,000 shares of Matson Inc. [MATX]. Should You also Consider to Sale?


In a filing, Matson Inc. revealed its Chairman & CEO COX MATTHEW J unloaded Company’s shares for reported $0.88 million on Aug 31. In the deal valued at $88.30 per share,10,000 shares were sold. As a result of this transaction, COX MATTHEW J now holds 221,267 shares worth roughly $ 19.7 million.

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Then, Park Kuuhaku T sold 2,318 shares, generating $205,120 in total proceeds. Upon selling the shares at $88.49, the Senior Vice President now owns 11,526 shares.

Before that, Cerocke Grace M sold 700 shares. Matson Inc. shares valued at $64,858 were divested by the Senior Vice President at a price of $92.65 per share. As a result of the transaction, Cerocke Grace M now holds 12,164 shares, worth roughly $1.08 million.

Wolfe Research upgraded its Matson Inc. [MATX] rating to a Peer perform from a an Underperform in a research note published on Friday.

Price Performance Review of MATX

On Friday, Matson Inc. [NYSE:MATX] saw its stock jump 1.33% to $89.05. On the same session, the stock had its day’s lowest price of $88.41, but rose to a high of $89.9431. Over the last five days, the stock has gained 2.34%. Matson Inc. shares have risen nearly 42.46% since the year began. Nevertheless, the stocks have risen 20.89% over the past one year. While a 52-week high of $97.49 was reached on 08/07/23, a 52-week low of $56.51 was recorded on 04/05/23. SMA at 50 days reached $86.21, while 200 days put it at $70.53. A total of 0.22 million shares were traded, compared to the trading of 0.21 million shares in the previous session.

Levels Of Support And Resistance For MATX Stock

The 24-hour chart illustrates a support level at 88.33, which if violated will result in even more drops to 87.60. On the upside, there is a resistance level at 89.86. A further resistance level may holdings at 90.67. The Relative Strength Index (RSI) on the 14-day chart is 51.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.39%. Stochastics %K at 35.66% indicates the stock is a holding.

How much short interest is there in Matson Inc.?

A steep rise in short interest was recorded in Matson Inc. stocks on Aug 14, 2023, dropping by 50000.0 shares to a total of 1.11 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.16 million shares. There was a decline of -4.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.72% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.01.

Matson Inc. [MATX] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 5,412,254 shares, or roughly 15.09% of the outstanding MATX shares. In other words, the investor’s shares have fallen by -378,525 from its previous 13-F filing of 5790779.0. Additionally, The Vanguard Group, Inc. decreased -9.45% of its stake after which the total value it holdings stand at $355,467,353, while Dimensional Fund Advisors LP added 1.43% of its stake to hold $241.68 million in the firm. Over the last quarter, ArrowMark Colorado Holdings LLC purchased 338,940 shares of Matson Inc., while Fuller & Thaler Asset Management, bought -4,244 shares. At present, SSgA Funds Management, Inc. is holding 1,310,631 shares valued at $122.49 million. Geode Capital Management LLC owned 703,872 shares of the company at the time of its most recent 13F filing, worth $65.78 million.

According to FactSet, Matson Inc.’s share price will average $100.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.79 percent from its previous closing price of $87.88. Analysts expect Matson Inc. stock to reach the higher price of $110.00, while the lowest price estimate is $90.00. However, 3 analysts have rated MATX stock as a Hold in their predictions for 2023.


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